Pearson, the world’s largest educational publishing company, has agreed to sell its 50% stake in the Economist Group, publisher of The Economist, for £469m in cash.

The stake is being bought by existing shareholders, many of whom are connected to some of Europe’s leading manufacturing and banking families such as the Agnelli’s, owners of the FIAT motor empire, the Cadburys and the Rothschilds.

Last month, Pearson announced the sale of its 100% holding in the Financial Times newspaper to the Japanese publishing company Nikkei for £844m.

Pearson acquired its stakes in both titles in 1957. The Economist has no controlling shareholder, this is seen as a way to protect the magazine's editorial independence.

It had an operating profit of £60m last year, although falling demand for print advertising has led revenue decreases in the last three years.